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New Credit Card Scam / Malaysia

KUALA LUMPUR: With only basic knowledge in coding and the use of a web debugging proxy, several syndicates took to their computers to “purchase” electronic and luxury appliances from online shopping companies.

They would visit the online shopping websites and purchase all their items using phony credit card details while the debugging app was activated.

The app would fetch the transaction data from the bank to the online shopping website, and trick the website into believing that the transaction was approved, when in reality, it had been declined by the bank.

The syndicates would later sell the items they had purchased illegally for a much lower price.
Complete Story = http://www.thestar.com.my/news/nation/2016/05/04/phony-credit-card-gang-nabbed-two-online-shopping-sites-lose-almost-rm1mil-to-scam/

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